The Waco daily examiner. [volume] (Waco, Tex.) 187?-1888, 1887-09-30
The Threatened Panic.

IT - ",eVens are uauEtIots lt"i9
In the nnau cal history Ct the pited
states Thirty.seven saw the tr''
roal manic. ffv seven another and
seventy seven saw in Texas tie cul-
mination Of the panic OF seventy
three. This l. eighi!s.cyen. and we
now stand in the immediate presence
of disaster again, unless, indeed, the
president cali- congress together aud
means are taken to rush into the cur>
rents of trade some OF the money |
lying idle ana useless in the vaults OF
u % treasury department at Wa'bing-
ton. VIII be do this! There is no
sort O. doubt a. 80 tie necessity or
the ~ouudncss OF the policy, but next
year is presidential year, and good
deal Ct thought Is necessary TO deter
mine what the probable effect of such
policy VIII be upon nominating con
vcltion-, a. well as upon mons minds,
who will afterward rave TO do the
voting Notwithstanding money has
been piliag up in the treasury at lie
rate OF Two millions week
for year or more past,
there hiss been no real
move made to lessen the burden Ct
taxes by which this anne money
would be retained in business cur
rents. Tie government has no need
# the money at ALL and it j. yaiuly
cudesvoring to throw it out among
the people again, by means of such
mca urcs rs the Blair bill. q her
siatesmcn are IN favor of building a
navy and still others are moving for
coust dcienscs, while still others are
tor building federal court houses and
post offices whe rever needed, and in
this way to relieve the glutted vaults
and restore the sadly needed money
to the suffering commerce OF the
country. II it were n LEES serious
sui i,ct we would suggest the TUT ming
loose upon the treasury department u
few Texas train robbers. We inn g.
Inc that we could promise that if this
rude policy were adopted the money
would at once lind Its way promptly
into commerce.
Did the president promptly
, call congress together and
$ were they to remove some
oc,i. mo, t,,rJ, ,,..,,,,o ,o,,.- o,,.t no
ducc others, and then order the trea, =
ury agents to 90 INTO the markets
and buy bonds, the threatened panic
would not only be averted. but We
t. would have instead. an era OF prosper
ity which would send the lite.bood
OF healthy confidence bounding
through every artery OF de and
every center of commerce and m'nu-
featuring. This is the only way out
of The difficulty that We can see now
j.. But 1T is u real remedy, aud "a sound
nfc and wholesome one.
As usuyl thIs panic catches the south
-, heavily, cat chcs her with the balance
OF money fearfully against her owing
to the short crops OF the last fuul
years and the heavy expenses under
J. taken in the way of permanent i'm
At provements which have not been a.
yet productive. We can see no gooC
q sense in continuing the rate of taxa
ton AZ il is now, when the only rcsul
= l. to pile up needless money
:. in the treasury vaults when II is :,
badly needed in trade. Rather thar
see panic now from these causes ",
70 would be in favor OF seeing the gov
emmcnt haul u few hundred million
into Wall street and dump then
" down for all to help themselves at vii
and without reference to the retire
ment of any part or character OF III
is securities OF the government,
II Itisa short sighted policy on IL
h part of tho administration TO sit cain
II ly st Washington with blosted an
u glutted vaults and see the industric
- of the country destroyed and distres
and ruin result when all could b
avcrted by wise policy of putin
the public money where it would d
- the most good, in such juncture a
this.
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